Question: PS-SA. Using the ledger balances and additional data provided, do the following for Meyer Lumber of Hinton for the year ended December 31, 20221
PS-SA. Using the ledger balances and additional data provided, do the following for Meyer Lumber of Hinton for the year ended December 31, 20221 a. Prepare the worksheet. b. Prepare the income statement, statement of owner's equity, and balance sheet. c. Journalize and post adjusting and closing entries. (Be sure to put beginning balances in the ledger first.) d. Prepare a post-closing trial balance. e. Journalize the reversing entry for wat. Additional Data (for Problem P8-5A) Additional Data (for Problem PB-SA) Account Na 110 $ 1,680 111 Accounts Receivable 960 Merchandise Inventory 4,550 113 Lumber Supplies 269 114 Prepaid Insurance 218 121 Lumber Equipment 3,000 122 Accumulated Depreciation, Lumber Equipment 490 220 Accounts Payable 1,160 221 Accrued Wiges 330 331 L Meyer, Capital L Meyer, Withdrawals Income Summary 7,352 3,000 22,800 440 Sales 441 Sales Returns and Allowances 550 Cost of Goods Sold 660 Wages Expense 661 662 Rent Expense Advertising Expense Depreciation Expense, Lumber Equipment Lumber Supplies Expense Insurance Expense Additional Data (for Problem P8-5A) a. Physical count of inventory, December 31 b. Lumber supplies on hand, December 31 c. Insurance expired d. Depreciation for the year e. Accrued wages on December 31 2KOMON SIZL 2,480 830 $4,420 110 120 300 125
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
